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Property & Casualty |
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How to Take Full Advantage of the Hours Clause for Catastrophes When there is a long duration for any particular catastrophe, it’s difficult to figure out what to report to reinsurers. In many reinsurance arrangements there is an hours clause that can have a great bearing on the loss amount that can be invoiced to a reinsurer for recovery. Find out how to take full advantage of this clause. |
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Researching Core Systems Replacing or modernizing a core system is an important undertaking for an insurer and for those working on the project. It’s commonly known that core system projects require time, effort and money to attain success. Selecting the best system and vendor for your project is critical to getting the results you want. That selection requires determination, dedication, and a lot of research on available systems. In the words of some project veterans, “There are no shortcuts.” Be sure to consider these key issues when you are researching. |
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Current & Future Needs: Mobile Device Access for Core Systems Effective solutions need a flexible underlying platform so you get production-ready insurance processing out of the box that can change as future requirements surface. You need to be able to add emerging technologies once they become mature and stable. You must be able to count on solid user interface technology today while being able to change UI experience to virtually any technology in the future. |
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From Data Mining to True Business Intelligence While Business Intelligence (BI) is a matter of increasing discussion and importance, the term – and the activities it describes – have been part of the management and planning discussion for decades. Today we see a breakthrough in BI. Fully integrated data management systems have been in place long enough to facilitate a new level of capabilities. These capabilities are defined by drawing meaning from the information passing through end-to-end e-managed processes. With the insights gleaned from mining the data that insurers have available, they can monitor the flow of transactions as the policy, billing and claims system process them. |
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Building a Business Case for a Claims System Building a business case for a new property/casualty claims system includes highlighting and quantifying opportunity and outlining current challenges. Two of the greatest opportunities revolve around customer service and greater efficiency. |
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Building a Business Case for a Billing System Regardless of how hard-working the industry’s aging billing systems are, they can’t always meet the needs of effective operations, nor can they help a company exceed customer expectations. How does a company generate a business case for an advanced billing system that addresses both sets of needs: operational and customer? This article contains some key considerations. |
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Claims Systems Reimagined Modern claims administration solutions have to help reduce leakage, improve productivity, aid retention of competent adjusters, reduce cycle times and improve customer service … all while providing managers with a set of key measures to continually improve processes and optimally deploy staff. These are table stakes for any new claims systems. But they are no longer enough to operate in a fully optimized manner. There are new business needs and new technology that paint a picture of where claims systems are heading. |
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Claims Management: Client Success A claims management system has to handle many events … a car accident … a tornado … a work injury. The best approach for an insurer that wants to respond quickly and consistently is to turn to a software provider with 30 years of experience delivering systems that understand the art of claims management. This paper highlights four StoneRiver claims clients and their experiences in achieving the business objectives they wanted. |
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Four Essential Considerations for a Billing System Legacy billing systems don’t meet the expectations of customers, nor do they meet the needs of today’s carriers. If carriers decide to buy a billing system when it’s time to move off a legacy platform, then they need to address the four essential considerations contained in this article. |
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The Future of Claims Reporting How can carriers continue to improve claims service and lower cost through faster handling? When policyholders suffer a loss, that’s the time for an insurance company to step up to deliver on customer service. Innovative technologies proactively involve the insurer and speed up loss notice. |
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Billing: The Impact on Customers and Operations Day in and day out aging P&C billing systems still process tens of thousands of transactions throughout our industry. However, these hard‐working systems cannot meet the needs of your executive team, nor can they help your company exceed customer expectations. This paper looks at what management wants and what customers expect. |
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Life, Health & Annuity |
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What Lies Ahead: The Life insurance industry doesn’t exist in a vacuum. Factors like unemployment, increasing life spans, interest rates, tax reform and government regulation are converging to create unprecedented challenges. Read our take on how these important issues will influence the future of our industry. |
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LifeSuite Automates New Business and Underwriting Processes on the Web Use this document to perform a preliminary evaluation of LifeSuite, a web-based automated underwriting system that streamlines processes and improves results. Read about the benefits you can expect from a LifeSuite deployment, as well the system's technology, architecture, and functionality. |
Financial & Compliance |
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A Primer on the Priority Rules of Unclaimed Property Before the Texas v. New Jersey Supreme Court ruling in 1965, there were not clear rules about what jurisdiction had superior claim to escheat unclaimed property. At times this led to holders facing multiple and conflicting claims asserted by different jurisdictions. Ultimately, the Court heard three different cases where the justices were asked to resolve interstate disputes over competing and conflicting claims. The Court proceeded to establish and subsequently reaffirm a clear rule with ease of application and equity to govern intangible property obligations. Another goal of the court was to eliminate uncertainty for holders and also reduce the threat of costly litigation that accompanies uncertainty in clearly defining which state has the right to escheat. |
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Four Issues When Considering Annual Statement Software While there are only a few vendors that offer annual statement software, it pays to take enough time to evaluate the differences thoroughly. This article looks at four issues to consider when assessing how quickly you’ll be able to complete annual statement preparation with the software application. By choosing the right software, you might make it home for dinner during annual statement season. |
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5 Questions to Ask Before Using Hosting Services While there are definite advantages to doing business with vendors that provide their products as a hosted platform, there are also some areas of risk. This article outlines those advantages as well as provides five key questions to ask a hosted provider to ensure they can provide the required levels of support and performance needed. |
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Your Personal NAIC Checklist Need a handy year-end checklist with the latest information available as of early December? Also take advantage of a summary of the recently held NAIC Fall National Meeting. Everything a company needs to be prepared! |
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Unclaimed Property Due Diligence Essentials Reporting and remitting unclaimed property to states is just one part of the compliance equation. There is another very important step that cannot be overlooked in the effort to maintain ongoing compliance, and that is performing due diligence. What are essential statutory due diligence requirements? |
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Accounting Errors Disguised as Unclaimed Property At times we get so busy in our day to day lives dealing with compliance requirements and reporting unclaimed property, we can easily lose sight of the theoretical view of what unclaimed property is. Unresolved accounting errors all too often can disguise themselves as unclaimed property. While accounting errors can be tricky to uncover, it is a worthwhile and profitable endeavor to identify and resolve material ones, rather than turn them over to states as unclaimed property. |
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Exemptions, Exclusions, and Deductions: The Devil is in the Details If you’re learning the fine points of unclaimed property law, you already know that provisions can vary from state to state. Unfortunately, they aren’t always straightforward or easy to interpret. This can be particularly true when you try to apply exemptions, exclusions, and deductions to your unclaimed property records. |
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2012 Regulatory Survey Results Overview In December 2011, StoneRiver surveyed insurance financial professionals regarding possible changes in regulatory reporting. Read what your peers told us about issues such as enterprise risk management, ORSA, transitioning to IFRS, and reinsurance regulatory modernization. |
